The AUD/NZD recovery is backed by Australia’s stronger external position. Economists at Westpac Institutional believes a test of the 1.10 key resistance is on the cards. Key quotes “While the RBNZ insists the OCR will remain at 0.25% into 2021, we still see negative interest rates as likely in NZ, contrasting with the RBA. This debate should help limit AUD/NZD pullbacks near-term to about 1.06, with a multi week scope for 1.0860 and perhaps even a test of 1.10 resistance.” “As for NZ, whole milk powder prices are 12% below the average of the past three years. We expect industrial commodities to outperform in coming months, with consumer spending struggling – a trend already clear in China. This favours AUD/NZD.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold trades with modest losses, holds above $1722 support zone FX Street 3 years The AUD/NZD recovery is backed by Australia’s stronger external position. Economists at Westpac Institutional believes a test of the 1.10 key resistance is on the cards. Key quotes “While the RBNZ insists the OCR will remain at 0.25% into 2021, we still see negative interest rates as likely in NZ, contrasting with the RBA. This debate should help limit AUD/NZD pullbacks near-term to about 1.06, with a multi week scope for 1.0860 and perhaps even a test of 1.10 resistance.” “As for NZ, whole milk powder prices are 12% below the average of the past three years. We expect industrial… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
